The National Association of Realtors® (NAR) is reporting that total existing-home sales on July, set a new monthly record increasing 24.7% above June, to a seasonally-adjusted annual rate of 5.86 million.
News in end use
Multifamily Builders Confidence Edges Higher in Q2 but Vacancy Rate Increases
According to the National Association of Home Builders (NAHB) Multifamily Production Index (MPI) builders confidence in the market for new multifamily housing increased 10 points to a reading of 37 in the second quarter of 2020.
Townhouse Construction in Q2 Remains Weak
A closer look at the U.S. Census Bureau’s data of Starts and Completions by Purpose and Design, by the National Association of Home Builders (NAHB) reveals that townhouse construction declined during the second quarter of 2020.
FEA’s Weekly Order Survey Participants Respond Favorably to Housing Industry News
Dealers responding to the FEA Weekly Order Survey could not help but feel encouraged by the latest housing industry news. With the Census Bureau reporting that housing starts, and permits both up in July over June and year-over-year.
Canadian Home Prices Rise Modestly in July
According to the Teranet-National Bank Composite House Price Index, Canadian home prices rose in July by 0.3% from June.
Mortgage Rates Creep Higher in Week Ending August 20th, 2020
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending August 20th, 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.99% with an average 0.8 point, up from last week when it averaged 2.96%.
Weekly Jobless Claims Climb Back Over 1 Million in the Week Ending August 15th, 2020
The U.S. Department of Labor is reporting that an additional 1,106,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, August 15th.
In Response to COVID-19 Pandemic and Economic Slowdown Home Sizes Shrink in Q2
According to data from the second quarter of 2020, Census Quarterly Starts and Completion by Purpose and Design report and analysis by the National Association of Home Builders (NAHB) median single-family homes sizes decline during the Q2 of 2020.
Custom Home Building Outperforms Overall Housing Market in Q2 2020
A closer look, by the National Association of Home Builders (NAHB) at the U.S. Census Data from the Quarterly Starts and Completion by Purpose and Design report reveals that custom home building outperformed the overall building market during the tumultuous second quarter of 2020.
Mortgage Loans in Forbearance Decreases for Ninth Week in a Row
The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey reports that that the total number of loans now in forbearance decreased by 23 basis points from 7.44% of servicers’ portfolio volume in the prior week to 7.21% as of August 9, 2020.